I filed with Turbo Tax last week. I have a municipal government pension, and I am confused about the "Required Minimum Withdrawal" rule with IRS. Does this apply to me?

[grandaddypopo]

In researching the IRS website, it only refers to IRA's concerning "Required Minimum Distributions". I am not in an IRA. I want to know if I will be subjected to any "scrutiny" regarding this.

[KenH1 · Accepted solution]

If you were 70.5 or older last year., there is a minimum amount (RMD) that must be withdrawn every year.

RMDs are built into government pension payments.   If you had no other retirement accounts (IRAs, 401k, 403b, TSP), then you should be OK.   Contact your pension administrator to verify.